Pasadena Private Wealth LLC Sells 7,497 Shares of NexPoint Residential Trust, Inc. $NXRT

Pasadena Private Wealth LLC reduced its holdings in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 16.6% during the second quarter, Holdings Channel reports. The fund owned 37,624 shares of the financial services provider’s stock after selling 7,497 shares during the period. Pasadena Private Wealth LLC’s holdings in NexPoint Residential Trust were worth $1,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Northern Trust Corp grew its position in NexPoint Residential Trust by 4.6% during the first quarter. Northern Trust Corp now owns 455,908 shares of the financial services provider’s stock valued at $18,022,000 after acquiring an additional 19,927 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in NexPoint Residential Trust by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 360,879 shares of the financial services provider’s stock valued at $14,266,000 after acquiring an additional 22,367 shares during the last quarter. Invesco Ltd. grew its position in NexPoint Residential Trust by 63.9% during the first quarter. Invesco Ltd. now owns 330,285 shares of the financial services provider’s stock valued at $13,056,000 after acquiring an additional 128,745 shares during the last quarter. Millennium Management LLC grew its position in NexPoint Residential Trust by 15.6% during the first quarter. Millennium Management LLC now owns 328,683 shares of the financial services provider’s stock valued at $12,993,000 after acquiring an additional 44,391 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its position in NexPoint Residential Trust by 109.7% during the first quarter. BROOKFIELD Corp ON now owns 193,982 shares of the financial services provider’s stock valued at $7,668,000 after acquiring an additional 101,459 shares during the last quarter. 76.61% of the stock is currently owned by institutional investors.

NexPoint Residential Trust Stock Performance

NYSE:NXRT opened at $31.50 on Monday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 4.22. The firm’s fifty day simple moving average is $32.45 and its 200 day simple moving average is $33.70. The stock has a market cap of $798.84 million, a P/E ratio of -16.07 and a beta of 1.08. NexPoint Residential Trust, Inc. has a twelve month low of $29.98 and a twelve month high of $48.31.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.01). NexPoint Residential Trust had a negative return on equity of 12.54% and a negative net margin of 19.55%.The company had revenue of $63.10 million during the quarter, compared to the consensus estimate of $63.32 million. NexPoint Residential Trust has set its FY 2025 guidance at 2.750-2.750 EPS. As a group, research analysts predict that NexPoint Residential Trust, Inc. will post 2.86 EPS for the current year.

NexPoint Residential Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.51 dividend. The ex-dividend date was Monday, September 15th. This represents a $2.04 annualized dividend and a yield of 6.5%. NexPoint Residential Trust’s dividend payout ratio is -104.08%.

Insider Buying and Selling

In other NexPoint Residential Trust news, Director Brian Mitts sold 5,000 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $30.92, for a total value of $154,600.00. Following the completion of the transaction, the director directly owned 65,900 shares in the company, valued at approximately $2,037,628. This represents a 7.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NXRT. Wall Street Zen upgraded shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Truist Financial cut their target price on shares of NexPoint Residential Trust from $38.00 to $34.00 and set a “hold” rating on the stock in a report on Tuesday, August 12th. Zacks Research upgraded shares of NexPoint Residential Trust from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of NexPoint Residential Trust in a report on Saturday. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, NexPoint Residential Trust presently has a consensus rating of “Reduce” and a consensus price target of $40.88.

NexPoint Residential Trust Company Profile

NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol “NXRT,” primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with “value-add” potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States.